IT major Infosys Friday said its net profit declined by nearly 30 per cent to Rs 3,610 crore during the December 2018 quarter, even as it announced a share buyback plan of up to Rs 8,260 crore.

The country’s second-largest software services firm had registered a net profit of Rs 5,129 crore in the October-December 2017 quarter, Infosys said in a BSE filing.The Bengaluru-based firm’s revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.

The board of the company approved a buyback of equity shares from the open market route amounting up to Rs 8,260 crore at a price not exceeding Rs 800 per share, the statement added.Infosys has also announced a special dividend of Rs 4 per share that would result in a payout of about Rs 2,107 crore .

The company has revised upwards its FY2018-19 revenue guidance in constant currency to 8.5-9 per cent, it said.“With increased client relevance, we saw double digit year-on-year growth in Q3 on a constant currency basis,” Infosys CEO and MD Salil Parekh said.